Alternative investments: NZ managers lead hedge fund performance

What Black Swan returned to investors in 12 months

New Zealand hedge fund managers have been attracting investors as their returns outperform their non-domestic peers. Last year, the Ernst & Young New Zealand index returned more than 20% while the global average index, the HFRI index, lost almost the same amount. There are now about 40 boutique fund managers across hedge funds, commodity trading advisers and absolute return equity managers in New Zealand. Most are very small, managing assets in the tens of million dollars range.